TALA Loan App Review Complaints Philippines? Interest? Requirements

Tala Loan App review legit or not? interest rate? disbursement? requirements? How to pay using gcash?

Using this app, people can easily ask for loans from their phones, so credit scores are no longer needed.

In this article at retailasiaonline.com, we will review on it with many details for 2024.

Keeping this article to get more knowledge!

Tala Loan App overview

✅ Tala Loan App Review	⭐ 4.3 star
✅ Maximum Loan	⭐ 1000 – 10.000 PHP
✅ Age	⭐ 20 – 65 years old
✅ Term	⭐ 1 – 12 months
✅ Interest rate	⭐ 15 – 15.7 %/month
✅ Requirements	⭐ National ID
✅ Tala Loan Harassment	⭐ By phone, email
✅ Legit	⭐ Yes
✅ Payment	⭐ GCash
✅ Contact Number	⭐ 09190822695
✅ Tala loan Philippines App Dowload	⭐ Link here
✅  Email address	⭐ support@tala.ph

What is Tala loan App?

Tala loan app is one of the best places in the Philippines to get a quick cash loan. It is a real online lender called Tala Financing Philippines Inc., and it is listed with the Securities and Exchange Commission. The application also includes useful tools, such as spreadsheets for monitoring loans and tools for budgeting.

Pros of Tala loan

Here are some benefits after Tala loan app Philippines review:

• Accessibility: Tala loans are available to people without typical credit histories, making financial aid more accessible.
• Convenience: Tala loan applications are quick and may be done via mobile app.
• Speed: Tala loans can aid borrowers in situations by processing funds quickly.
• Flexibility: Tala loans may allow borrowers to choose repayment arrangements that fit their finances.

Cons of Tala App

In addition to its many advantages, Tala loan Philippines also has a number of drawbacks.

• Tala imposes high interest rates, which can be burdensome for borrowers, especially those in financial distress.
• Tala’s easy loan access can lead to overborrowing and debt for users who can’t repay many loans.
• Tala’s tiny loan amounts may not be enough for individuals with higher financial requirements.
• Tala’s services may not be available in all regions, limiting its customer base.
• Defaulting on Tala loans could hurt a user’s credit score, even though Tala doesn’t check credit scores.

Tala loan interest rates

Tala loan application form online has a variable interest rate that runs from 15% to 15.7% per month. Other fees include a service fee that is either 11% (for a loan term of 21 days) or 15% (for a loan tenure of 30 days), as well as a late payment fee that is 8% of the total amount owed.

Example calculator

Suppose you borrow $1,000 from Tala at an annual interest rate of 15%, and the loan term is 12 months.

Convert the Annual Interest Rate to a Monthly Rate: 

• Monthly Interest Rate = Annual Interest Rate / 12
• Monthly Interest Rate = 15% / 12 = 1.25%

Calculate the Monthly Interest Payment: 

• Monthly Interest Payment = Loan Balance x Monthly Interest Rate
• For the first month, it would be: $1,000 x 1.25% = $12.50

Calculate the Monthly Payment: 

Add the monthly interest payment to the portion of the loan principal you want to repay. This will depend on your loan agreement, but let’s assume you’re paying back $100 of the principal each month.

• Monthly Payment = Monthly Interest Payment + Monthly Principal Payment
• Monthly Payment = $12.50 + $100 = $112.50

Update the Loan Balance: 

Subtract the monthly principal payment from the outstanding loan balance to get the new balance for the next month.

• New Loan Balance = Previous Loan Balance – Monthly Principal Payment
• New Loan Balance = $1,000 – $100 = $900

Loan amount of Tala loan

The loan limits for Tala loan Philippines rely on where you live, your credit history, and your ability to pay back loans, among other things.

First Loan Limit

For first-time borrowers, It may give a Tala maximum loan that is usually between $10 and $500, depending on where you live and other factors.

Second Loan Amount

If you pay back your first loan on time, Tala may let you borrow more money for your second loan. This increase could be different for Tala loan to gcash, but it could be more than your first loan and could be anywhere from $50 to $750, based on a number of factors.

Third Loan Amount

If you keep making payments on time with Tala, the amount of your third loan could go up even more. On the Tala loan cash out to gcash, this amount could be anywhere from $100 to $1,000 or more.

Fourth Loan Amount

Like the Tala second loan amount if you have always paid back your previous loans, Tala might raise your loan cap for the fourth loan. The amount could be different, and it might be more than your third payment.

Requirements

Here are some general requirements that are usually needed to get a loan to avoid Tala loan not approved:

• Age: To get a Tala loan, you usually have to be at least loan for 18 years old.
• Residency: You must live in a country where Tala does business. Tala offers loans in many countries, and whether or not you can get one depends on where you live.
• Identification: To prove who you are, you may need to show a legal government-issued ID or another form of identification.
• Financial History: Tala decides if you are creditworthy by looking at things like how much you use your cell phone, how much money you spend, and other non-traditional data. You don’t have to have a standard credit background.
• Bank Account: You might need a bank account because Tala usually sends loans directly to bank accounts.
• Steady Income: Tala may not need you to have a standard job or source of income, but they usually want to see proof that you have a steady source of income or that you have enough money to pay back the loan.
• Email Address That Works: You might need an email address to get messages and information about your loan.
• Valid Mobile Number: You should have a valid mobile number that can get SMS texts.

How to loan in Tala philippines

Here are Step-by-step to apply for Tala Loan App:

Step #1: Download the Tala App

• Visit the Google Play Store (for Android) or the Apple App Store (for iOS) on your smartphone.
• Search for “Tala Philippines” and download the Tala app.
• Install the app for both Anroid and Tala loan app for iphone.

Step #2: Create an Account

• Open the Tala app and sign up for an account.
• You’ll typically need to provide your mobile number and create a password.
• Tala may send a verification code to your mobile number to confirm your identity.

Step #3: Complete Your Profile

• Once you’ve created an account, you’ll need to complete your profile. This may involve providing personal information, such as your name, date of birth, and address.
• Tala may also ask for additional information to assess your creditworthiness, such as details about your income and expenses to avoid ala loan rejected

Step #4: Apply for a Loan

• After completing your profile, you can apply for a loan within the Tala app.
• Enter the loan amount you need and select the loan term (the duration for which you want the loan).

They will use the information you provided to assess your eligibility for a loan.

If your application is approved, you will typically receive the loan amount directly into your specified bank account.

For more details about application using Tala loan app, you can watch these videos:

Read more:

• How to Transfer Tala loan to Gcash?
• How to cancel a Tala loan application?
• How to pay Tala loan in 7-eleven?

Tala Loan reviews complaints

I find the Tala loan application process to be swift and straightforward. The app also enables applicants to immediately determine if they are eligible for the desired Tala maximum loan and obtain approval in mere minutes after submitting all required documentation.

I believe a Tala loan application is a decent option if you need a large sum of money quickly and have a steady income. However, anticipate problems with technology and poor service.

Here’s an example of a Tala loan app review from a customer:

Tala loan payment.

Here are six steps to make a loan payment with Tala:

#1. Access the Tala App

• Open the Tala app on your smartphone.
• If you haven’t already installed it, download it from the Google Play Store (for Android) or the Apple App Store (for iOS).

#2. Log In to Your Tala Account

• Log in to your Tala account using the mobile number and password associated with your account.
• In the Tala app, you should be able to see your active loan(s) and the amount due.

#3. Choose a Payment Method

• Tala typically offers various payment methods, which may include bank transfer, over-the-counter payments at partner locations, mobile wallets, or debit/credit card payments.
• Choose the most convenient mode of payment.

#4. Enter Payment Details

• Depending on the payment option you choose, you will be required to provide the required information.
•  If you’re paying at an over-the-counter location, you’ll need to follow the instructions provided in the app.

#5. Confirm and Complete Payment

• Review the payment details to ensure accuracy.
• Once you’re satisfied that all information is correct, confirm the payment.

Note: If you’re making a digital payment, the app will guide you through the process, and you must pay attention to Tala loan id requirements for the payment to be successful. If you’re making an over-the-counter payment, follow the provided instructions and keep any payment receipts or reference numbers for your records.

Tala loan vs Mr Cash Loan: Which is better

Loan App	Tala loan app	Mr Cash loan	Peso Buffet
Interest Rate	15% to 15.7% per month.	3.315% – 4.563% per month	10% – 20% per year
Loan Amount	Up to PHP 10,000	Up to PHP 500,000	Up to PHP 10,000
Loan Term	Up to 6 months	Up to 6 months	Up to 6 months

Sources: Refer to Sate Bank reporting and research

Tala loan customer service

Here are the contact for Tala loan philippines:

Phone number:

• Globe: 09778118252 / 09778508252 / 09778558252
• Smart: 09190822695 / 09190742930

Email address:

• For general inquiries: email support@tala.ph
• For payment concerns: email paymentsupport@tala.ph 
• For concerns about the Tala Wallet, please check the email: accountsupport@tala.ph 

FAQs – Tala loan App review

For more information about Tala Loan App, follow the frequently asked questions below:

Is Tala loan app legit?

Yes, the Tala loan app is a real one. It is a well-known business that uses financial technology to give loans to people who might not be able to use traditional banking services. Tala is popular in a number of places, and its users have good things to say about it.

How to claim Tala loan in gcash?

Following these procedures will get you a Tala loan in GCash: Launch the GCash mobile app. Check the “Borrow” or Tala loan section. Select Tala loan and fill all relevant information. Wait for Tala to authorize the loan. Your GCash account will get the loan amount after approval.

How to claim Tala loan in palawan express?

Palawan Express Tala loan claim steps: Visit a Palawan Express near you. Complete the Palawan Express transaction form. Provide your Tala loan reference number and claim amount. A valid ID is required for verification. Pay remittance and service fees. Palawan Express will handle your claim. Palawan Express will pay you in cash after processing.

How long does Tala take to approve a loan?

Tala accepts loans within minutes to a few hours because it uses alternative data sources and a quick evaluation process. But the exact time it takes to get approved depends on things like where you live, how complete your application is, and how many loan requests are being processed at the moment.

How to increase Tala loan limit?

To get your Tala loan cap raised, always pay back your loans on time and keep a good borrowing record. Tala loan disbursement at how you pay back loans and gives responsible users gradually higher loan limits. If you make your payments on time, you may be able to borrow more money over time.

How to loan in Tala using gcash?

Steps to loan Tala with GCash: Open the GCash app and verify your account. Select “Borrow Load.” from the main menu. Find Tala under loan providers. Your Tala ID, loan amount, and payback terms must be entered. Read and sign your loan application. Tala’s alternative data-based review process accepts loans in minutes to hours.

Is Tala loan safe?

Yes, Tala is one of the best places in the Philippines to get a quick cash loan. It’s a legal online lender called Tala Financing Philippines Inc., and it’s registered with the Securities and Exchange Commission. This financial company is based in Santa Monica, California, but it also does business in Kenya, India, and Mexico.

Can I disburse Tala loan to Tala wallet?

Yes, you can take out a Tala loan and put the money in your Tala wallet. Borrowers can get their loan money quickly and easily by having it sent straight to their Tala pocket. This makes it easy to get the money and use it within the Tala environment.

What happens if unpaid Tala loan?

Tala loans with unpaid interest might have serious implications. First, it may lower your credit score, making future loans and credit impossible. Tala may add late fees or penalties to your bill. They may also call or write to you to collect the debt or sue.

In short

In general, Tala is a mobile loan service that helps underprivileged groups worldwide, including the Philippines. Tala loan app review lets customers apply for loans on their phones without credit scores.

The program uses mobile phone usage and financial transactions to determine creditworthiness, allowing those with bad credit to get small loans quickly. Tala offers flexible lending amounts and maturities at competitive rates.

Customers can easily apply, receive cash, and make repayments, fostering financial inclusion and empowerment for those without access to traditional banking.